AutoNation's Mike Jackson to step down as CEO next year
Tweet
Share
E-mail
FILE PHOTO: AutoNation Inc CEO Mike Jackson attends the Reuters Autos Summit in Detroit, Michigan, U.S., September 15, 2008. REUTERS/Rebecca Cook/File Photo
Get Alerts AN Hot Sheet
Join SI Premium – FREE
(Reuters) - AutoNation Inc's (NYSE: AN) longtime Chief Executive Officer Mike Jackson will step down from the role next year but remain executive chairman until 2021, the largest U.S. auto retail chain said on Wednesday.
AutoNation's stock has more than tripled since Jackson became CEO in 1999 after the company's founder H. Wayne Huizenga hired him from Mercedes-Benz USA, where Jackson was president.
The Fort Lauderdale, Florida-headquartered retailer has retained its No.1 position in the United States under Jackson's leadership.
His departure as CEO comes as U.S. automotive sales are cooling down after a solid run for several years following the 2008 financial crisis.
AutoNation said executive search firm Spencer Stuart would support its CEO succession process.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Sai Sachin Ravikumar)
Create E-mail Alert Related Categories
General News, Management Changes, ReutersRelated Entities
Harry Wayne HuizengaSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
